Larry Summers will destroy the economy (again)

Obama’s leading candidate to run the Fed is an ignoramus with the worst track record in America on regulating banks 

By David Dayen

Multiple sources confirm to Salon that the White House is leaning toward choosing Larry Summers to replace Ben Bernanke as the Chairman of the Federal Reserve, a prospect which has made many liberals apoplectic. Previously, the biggest booster of Summers appeared to be Summers himself, as he was waging a one-man campaign for the position. But over the past week, he has won the backing of influential players at the White House with the ear of the president, many of whom are his personal friends and colleagues.